Shutterfly cloud printing company considered selling

Tencent Technology News July 3, sources revealed on Wednesday, the United States personalized network printing company Shutterfly has hired investment bank Qatalyst Partners, the company looking for potential buyers.

It is reported that Shutterfly's sale of foreign work is still in preparation stage, not enough to ensure the real deal. Shutterfly's potential buyers may include private equity firms, as well as e-commerce and network storage companies.

Shutterfly looks for buyers that will include online giants like Google and Facebook. Bloomberg statistics show that this year, the U.S. technology and Internet companies have reached 70 billion U.S. dollars in total M & A transactions. Facebook, which bought WhatsApp for $ 18 billion earlier this year, on Wednesday announced the acquisition of LiveRail, a video-advertising technology company. Headquartered in San Francisco, LiveRail is primarily engaged in helping media companies programmatically sell video ads to cable television channels A & E, Universal Pictures, MLB and BET.

Shutterfly allows consumers to print photos on items such as cups, cushions and iPad cases. The company has previously acquired companies such as Tiny Prints and Wedding Paper to expand its product line to stationery, greeting cards, invitations and more. In 2012, Shutterfly also acquired Kodak Gallery, an online photo sharing service from Kodak.

Stock prices soared

Shutterfly's current main rivals include Snapfish, a unit of HP, and CVS Caremark, the nation's largest retail pharmacy and healthcare provider. Shutterfly was founded in 1999 as early investors in the company include Netscape co-founder Jim Clark and others.

Shutterfly has been raising revenue at the expense of profit. Shutterfly's revenue rose 17% to $ 137.1 million in the first quarter of this year, but at the same time its net loss widened to $ 34.2 million from $ 12.4 million in the same period last year. According to Bloomberg News, Shutterfly is likely to see a loss this year, the first annual loss for Shutterfly since it went public in 2006.

Up to now, both Shutterfly and Qatalyst Partners did not comment on the report. However, subject to the news of the sale of foreign sales, Shutterfly shares rose 6.49 US dollars on Wednesday, or 14.92%, to close at 50.00 US dollars. According to Wednesday's closing price, Shutterfly's market capitalization of 19.3 billion US dollars.